In this episode of The Purposeful Strategist, Belden Menkus speaks with Patrick Heath-Lay, CEO of People’s Partnership, about how the organisation behind The People’s Pension has grown into one of the UK’s largest workplace pension providers, and what it takes to build a system that works for millions.

They explore the organisation’s transformation from its roots in the construction industry, the impact of automatic enrolment, and how a not-for-profit, profit-to-member model shapes decision-making at scale.

In their conversation, they discuss:
• What a master trust pension is and how it works in practice.
• How legislative change forced a strategic reinvention of the organisation.
• Balancing commercial discipline with member outcomes in a purpose-driven business.
• Why the pensions system must work for those who don’t actively engage with it.

People’s Partnership: https://peoplespartnership.co.uk/

MenKus & Associates: https://www.menkus.com/

Supported by Norman Broadbent: https://www.normanbroadbent.com/

Belden Menkus is the Managing Director of Menkus & Associates, a senior strategic advisory practice that provides strategic clarity for businesses with a public remit, where scrutiny is high, governance is complex, and the answers aren't obvious. His McKinsey training combined with more than 30 years working at Board and ExCo level gives him both the analytical rigour and the relational experience that complex, high-stakes leadership situations demand.

Belden hosts The Purposeful Strategist, a weekly podcast. It explores how senior leaders bring purpose to life through strategy and reflects the same questions that drive the consulting work.

In this episode of The Purposeful Strategist, Belden Menkus speaks with Will Gardiner, CEO of Drax, about leading through the complexity of the energy transition and what it takes to operate in a system under growing pressure. They explore the strategic choices required as demand for electricity accelerates, the realities of managing a more volatile, renewables-led system, and how the narrative around energy is evolving beyond net zero.

In their conversation, they discuss:
• Why flexibility is critical in a system increasingly shaped by intermittent wind and solar.
• How Drax’s strategy has evolved from multiple growth bets to a clearer focus on generation and volatility.
• The challenges of grid constraints, misaligned incentives, and building infrastructure at pace.
• How rising demand, particularly from AI and data centres, is reshaping the energy landscape.
• Why leaders must do more to communicate the value of energy and rebuild public trust.

Drax: https://www.drax.com/

Blueprint for Business: https://www.blueprintforbusiness.org/

MenKus & Associates: https://www.menkus.com/

Supported by Norman Broadbent: https://www.normanbroadbent.com/

Belden Menkus is the Managing Director of Menkus & Associates, a London-based advisory firm working with CEOs and senior teams to align strategy with purpose. Drawing on decades of experience in strategy consulting, leadership, and organisational transformation, he helps mid-sized firms—particularly law firms and membership bodies—tackle complex decisions and unlock long-term value.

Belden hosts The Purposeful Strategist, a podcast exploring how business leaders bring purpose into strategic action. His work is marked by intellectual clarity, a collaborative approach, and a commitment to practical results. A strategic thinker with wide intellectual range, blending business acumen with curiosity and cultural literacy. He brings a distinct mix of consultant, historian, and explorer of ideas.

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